WASHINGTON and NEW YORK and LONDON, April 30, 2015 /PRNewswire/ -- MarketResearch.com recently published a blog post highlighting four ways that businesses and entrepreneurs can use market research to size up their competition.
The blog post focuses on four main ways market research helps businesses better understand their competition and come out on top:
- Assess the market to identify both key players and those on the rise.
- Focus on your key competition's strengths AND weaknesses.
- Analyze any failures by your competition.
- Use your target market to your advantage.
To learn more, check out the blog post: http://hubs.ly/y0LtRy0
The first benefit discussed goes over the importance of answering the basic questions that can be found in Porter's 5 Forces. You can use research to determine the threat of new entrants, threat of substitutes, bargaining power of customers and suppliers, and competitive rivalry.
Market research can help you answer those five basic questions, which provides a look into your market and the entire competitive landscape that you might face.
To get more details on how market research can help you better place yourself in the competitive landscape of your market, check out the blog: http://hubs.ly/y0LtRy0
MarketResearch.com's newly upgraded Profound solution allows organizations of all sizes, and of all budgets, to get the data needed to adequately assess your market competition, without paying the high cost of buying multiple full-length reports.
To learn more about Profound or to sign up for a free trial, visit: http://www.profound.com/Home.aspx.
MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance.
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